Should We Be Worried?
A quick technical look at the S&P 500 in the very short term suggests that the overnight dip is nothing to concern us yet. We are top of the trading range in this most recent (short) six-week uptrend. If the US market dipped to the bottom of that range you might see the market lose around 3%. Nothing to stress investors, traders might be thinking about taking a profit now and coming back later.
The ASX 200 is a different proposition. This is the five-year chart:
This is the one year chart - as you can see there has just been an RSI sell signal and MACD (momentum of the uptrend) has been fading. Again, short-term you couldn’t be blamed for taking some profits.
Bottom line: With...Continue Reading